Summary
- • The global meal kit delivery services market size was valued at USD 10.26 billion in 2020
- • The meal kit delivery services market is expected to grow at a CAGR of 12.8% from 2021 to 2028
- • In 2020, 7% of US consumers reported using meal kit delivery services
- • HelloFresh reported 2.6 million active customers in the US for Q4 2020
- • Blue Apron's revenue for 2020 was $460.6 million
- • The average cost per meal for meal kit services ranges from $8 to $12
- • 58% of meal kit users cite saving time on meal planning as a primary reason for using the service
- • The US meal kit delivery service market is expected to reach $11.6 billion by 2022
- • In 2020, 22% of US consumers reported increased usage of meal kit delivery services due to the COVID-19 pandemic
- • The average customer retention rate for meal kit services is around 50% after six months
- • Plant-based meal kits are expected to grow at a CAGR of 10.9% from 2021 to 2028
- • In 2020, 34% of meal kit users reported trying new cuisines through these services
- • The global ready meals market size was valued at $159.15 billion in 2019
- • The ready meals market is projected to reach $244.29 billion by 2027
- • In 2020, 55% of US consumers reported cooking more at home due to the pandemic
Hungry for a fresh take on the booming Meal Prep Industry? With the global meal kit delivery services market reaching a sizzling value of USD 10.26 billion in 2020 and expected to grow at a lip-smacking CAGR of 12.8%, its clear that convenience is the main course on the menu. From saving time on meal planning to exploring new flavors, the statistics speak volumes about the changing dynamics of how we approach food. Join the feast as we dig into the numbers and trends shaping this culinary revolution – its a deliciously insightful journey ahead!
Company Performance
- HelloFresh reported 2.6 million active customers in the US for Q4 2020
- Blue Apron's revenue for 2020 was $460.6 million
- DoorDash reported $2.9 billion in revenue for 2020
- Uber Eats generated $4.8 billion in revenue in 2020
Interpretation
In the cutthroat world of meal prep services, the numbers don't lie: HelloFresh is cooking up a storm with 2.6 million satisfied customers, while Blue Apron is slicing and dicing its way to a hefty $460.6 million in revenue. But let's not forget the delivery giants: DoorDash is feasting on a feast of $2.9 billion in revenue, while Uber Eats is devouring a hearty $4.8 billion. It seems like the meal prep industry is not just about feeding bellies, but also hungry investors looking for a bite of success.
Consumer Behavior
- In 2020, 7% of US consumers reported using meal kit delivery services
- 58% of meal kit users cite saving time on meal planning as a primary reason for using the service
- In 2020, 22% of US consumers reported increased usage of meal kit delivery services due to the COVID-19 pandemic
- The average customer retention rate for meal kit services is around 50% after six months
- In 2020, 34% of meal kit users reported trying new cuisines through these services
- In 2020, 55% of US consumers reported cooking more at home due to the pandemic
- The average meal prep time for home-cooked meals is 37 minutes
- In 2020, 70% of consumers reported buying more frozen food during the pandemic
- In 2020, 48% of consumers reported buying more organic food due to health concerns
- In 2020, 25% of consumers reported using meal replacement products
- In 2020, 52% of consumers reported using food delivery apps
- The average American spends $3,008 per year on dining out
- In 2020, 63% of consumers reported being more conscious about food waste
- In 2020, 55% of consumers reported preferring sustainable food packaging
- In 2020, 76% of consumers reported being concerned about food safety
- In 2020, 65% of consumers reported seeking out functional foods for health benefits
- In 2020, 28% of consumers reported eating more plant-based meat alternatives
- In 2020, 62% of consumers reported wanting more transparency in food sourcing
- In 2020, 45% of consumers reported preferring natural food preservatives
- In 2020, 58% of consumers reported being interested in trying new and exotic flavors
Interpretation
In a world where convenience is king and time is a precious commodity, the meal prep industry has emerged as a savior for the time-strapped and the adventurous eaters alike. As evidenced by the statistics, Americans are navigating their culinary journey through a landscape of meal kit deliveries, frozen food stockpiling, and organic indulgences, all while navigating the treacherous waters of a pandemic-induced homebound existence. With a keen eye on health, sustainability, and flavor exploration, these statistics paint a picture of a nation redefining its relationship with food, one meal kit at a time. So, whether you're a plant-based trendsetter seeking out functional foods or a seasoned foodie yearning for exotic flavors, the meal prep industry is here to serve up a plateful of possibilities, all wrapped in sustainable packaging with a side of food safety concerns. Bon appétit and bon voyage on your culinary odyssey!
Market Size and Growth
- The global meal kit delivery services market size was valued at USD 10.26 billion in 2020
- The meal kit delivery services market is expected to grow at a CAGR of 12.8% from 2021 to 2028
- The US meal kit delivery service market is expected to reach $11.6 billion by 2022
- The global ready meals market size was valued at $159.15 billion in 2019
- The ready meals market is projected to reach $244.29 billion by 2027
- The global food delivery market was valued at $107.44 billion in 2019
- The global frozen food market size was valued at $291.3 billion in 2019
- The frozen food market is expected to grow at a CAGR of 5.1% from 2020 to 2027
- The global organic food market was valued at $162.04 billion in 2019
- The organic food market is expected to grow at a CAGR of 12.2% from 2020 to 2027
- The global meal replacement market size was valued at $11.9 billion in 2019
- The meal replacement market is expected to grow at a CAGR of 6.5% from 2020 to 2027
- The global food tech market size was valued at $220.32 billion in 2019
- The food tech market is expected to grow at a CAGR of 6.0% from 2020 to 2027
- The global cloud kitchen market size was valued at $43.1 billion in 2019
- The cloud kitchen market is expected to grow at a CAGR of 12.0% from 2020 to 2027
- The global food waste management market size was valued at $33.2 billion in 2019
- The food waste management market is expected to grow at a CAGR of 5.4% from 2020 to 2027
- The global food packaging market size was valued at $303.26 billion in 2019
- The food packaging market is expected to grow at a CAGR of 5.2% from 2020 to 2027
- The global food safety testing market size was valued at $18.9 billion in 2019
- The food safety testing market is expected to grow at a CAGR of 7.3% from 2020 to 2027
- The global functional food market size was valued at $177.77 billion in 2019
- The functional food market is expected to grow at a CAGR of 7.9% from 2020 to 2027
- The global plant-based meat market size was valued at $3.3 billion in 2019
- The plant-based meat market is expected to grow at a CAGR of 19.4% from 2020 to 2027
- The global food robotics market size was valued at $1.64 billion in 2019
- The food robotics market is expected to grow at a CAGR of 13.1% from 2020 to 2027
- The global food traceability market size was valued at $14.1 billion in 2019
- The food traceability market is expected to grow at a CAGR of 9.1% from 2020 to 2027
- The global food preservatives market size was valued at $2.5 billion in 2019
- The food preservatives market is expected to grow at a CAGR of 3.7% from 2020 to 2027
- The global food flavors market size was valued at $15.1 billion in 2019
- The food flavors market is expected to grow at a CAGR of 4.8% from 2020 to 2027
- The global food enzymes market size was valued at $2.1 billion in 2019
- The food enzymes market is expected to grow at a CAGR of 6.4% from 2020 to 2027
Interpretation
The numbers tell a deliciously captivating tale of the ever-evolving world of food and meal preparation. As the meal kit delivery services market serves up convenience on a platter, the ready meals market heats up with projections that are sure to satisfy the appetites of investors. The food tech market buzzes with innovation, while the plant-based meat market sizzles with growth potential. Meanwhile, in the realm of food safety testing and traceability, serious issues are being handled with the precision of a master chef. As the global culinary landscape continues to evolve, one thing is certain: this isn't just about what's on our plates, but the complex and dynamic ecosystem that surrounds it. Bon appétit, indeed!
Market Trends
- Plant-based meal kits are expected to grow at a CAGR of 10.9% from 2021 to 2028
- In 2020, 60% of restaurant operators reported offering delivery services
- In 2020, 30% of food manufacturing companies reported using robotics in their operations
- In 2020, 40% of food manufacturers reported using enzymes in their products
Interpretation
As the culinary landscape continues to evolve, it seems the dining experience is shifting towards a technological and plant-powered future. The rise of plant-based meal kits at a sprouting rate of 10.9% suggests a growing appetite for sustainable dining options, while the dominance of delivery services among restaurant operators at 60% reflects a desire for convenience in the modern age. Moreover, the fusion of robotics (embraced by 30% of food manufacturers) and the incorporation of enzymes (by 40% of food manufacturers) highlight a blending of cutting-edge technology and natural elements in the culinary world. It's clear that the future of food is not only delicious but also driven by innovation and sustainability.
Pricing and Value
- The average cost per meal for meal kit services ranges from $8 to $12
Interpretation
In the ever-evolving landscape of meal prep services, where convenience meets culinary innovation, the average cost per meal ranging from $8 to $12 speaks volumes about the value placed on time and taste. Like a well-seasoned dish, these figures suggest that consumers are willing to pay a premium for the luxury of having fresh, pre-portioned ingredients delivered to their doorstep, saving both time and energy in the kitchen. As the industry continues to simmer with creativity and competition, it's clear that a well-prepared meal is more than just sustenance—it's a flavorful fusion of convenience and quality worth savoring.
